Which Phones Are Eligible?

The list of phones on offer is pretty good, but they aren’t what I would consider budget phones, so this deal only really works if you’re in the market for one.

iPhone 7

iPhone 8

iPhone 8 Plus

iPhone XS

iPhone XS Max

iPhone XR

iPhone 11

iPhone 11 Pro

iPhone 11 Pro Max

Google Pixel 3 XL

Google Pixel 3

Google Pixel 4 XL

Google Pixel 4

Oppo Reno 5G

Oppo R15 pro

Samsung Galaxy A50

Samsung Galaxy S8

Samsung Galaxy S9+

Samsung Galaxy S9

Samsung Galaxy Note9

Samsung Galaxy S10e

Samsung Galaxy S10 5G

Samsung Galaxy S10+

Samsung Galaxy S10

Huawei P30

Huawei P30 pro

Huawei Nova 3i

Huawei Mate 20 Pro

Which Plan Comes With 40,000 Velocity Points?

If you’re only doing this for the points and to get a new phone, you will want to go for the most expensive plan since this comes with the 40,000 bonus Velocity Points. From there it works downwards with the cheapest plan only getting 12,000 Velocity Points.

Who’s Eligible?

This introductory offer is only available to Velocity Members who sign-up, as a new Optus customer, to Optus My Plan Plus 24 month handset Plan or sign-up to a new contract term, as an existing Optus customer, to Optus My Plan Plus 24 month handset Plan.

Can’t I just Go For The Sim Only Plan With 18,000 Points?

You could, but even though the first 3 months are free, there’s a hefty cancellation fee for sim only plans so this deal only really works for the 24 months Plan + Phone deal.

Why There Be A Credit Hit?

As with any phone plan or contract, there will be a credit enquiry on your file. However, personally, I see these as minor impact, and in the long term they will only help you improve your score, so I see this as a non-issue.

Cancellation Terms

Your phone repayments are reduced by a monthly credit. If you need to cancel your plan there are no plan cancellation fees, simply pay out the full remaining cost of your phone which will include any monthly credits that Optus was going to cover.

What Are 40,000 Velocity Points Worth?

I value 40k points at around $400 (the max price I would pay to obtain them). This means you could see the points as a nice discount on a phone you were already going to get in the first place.

Of course, if the plan works for you, great. But if it doesn’t, there’s an easy way out where you just pay for the phone and cancel the plan for free.

When Will The Points Credit?

Members must provide their Velocity membership number at time of sign up or re-contract to be eligible to receive Velocity Points. Your Velocity account must be registered with the same name as your Optus account.

Your Optus service must be active for 30 days to be eligible for Velocity Points. It may take up to 6 weeks from activation of your Eligible Optus Service for your Velocity Points to be awarded to your Velocity account. Velocity Points cannot be claimed retrospectively. Optus terms and conditions for the selected Eligible Optus Service apply. Cancellation fees may apply.

While the t&cs do say that cancellation fees apply, it’s my understanding that this is for SIM-only plans and not for the phone +24 month contract.

Conclusion: Is it worth it?

40,000 Velocity points are pretty tempting. Personally, I will sit this one out since I just got a new iPhone (thanks to a $500 cashback deal at The Good Guys). However, those in the market for a new device (provided it’s on the list) should definitely look into this deal!